Restaurant365®, the world’s all-in-one, cloud-based, restaurant-specific accounting, back office and reporting solution will release a fully-integrated Accounts Payable (AP) automation solution built specifically to streamline restaurant invoice capture, approvals and payment processing.
Most restaurant companies have either a manual process for entering, approving and paying invoices, or resort to using multiple third-party systems to try to automate and record these elements of accounts payable management. Restaurant365 is the first and only company to provide complete AP Automation, built specifically for restaurants, in a single platform.
Electronic invoices flow directly through Restaurant365 software, further streamlining the capture and entry of AP invoices and credit memos.Digital conversion is now available for all paper invoices, removing the need for manual data entry or use of a separate third-party service which requires maintenance of the integration and imports of invoice, vendor, item and general ledger accounts. Restaurant365 also is a single source document repository for all invoice and credit memo files, directly accessible from the system and corresponding financial transactions.
Invoices can now be routed through a new workflow module. Customizable rules can be set up based on multiple variables. Multiple levels of escalating approvals can be configured to meet the individual needs of each Restaurant365 customer.
Users will now able to create and send payments for automated delivery through the Restaurant365 platform, which is optimized to the highest industry-leading security standards. No more manual printing of checks or manual uploads of ACH files. The solution also allows multiple automated payment options, including check, automated clearing house (ACH), virtual card and other digital payment options. In addition, restaurants will be able to maximize rebates by moving AP spend onto single-use virtual cards. Because Restaurant365 is an accounting system automating payments, there is no need for separate exports and imports from other third party payment processors.
“We are proud to unveil the best AP automation solution built specifically for restaurants,” said John Moody, Co-Founder of Restaurant365. “We have solved the problem of separate systems riddled with integration hassles and manual or limited third party payment options. Now, through Restaurant365, true end-to-end AP automation for restaurants is a reality.”
A complete AP automation for restaurants, Restaurant365 now allows for all AP invoice capture, routing for approval and automated payments with the most flexible payment options available. AP automation and accounting now lives in a single platform and can be executed in just three easy steps.